Arab Today, arab today s korea to revive crisis management meeting
Last Updated : GMT 17:46:52
Arab Today, arab today
Arab Today, arab today

S. Korea to revive crisis management meeting

Arab Today, arab today

Arab Today, arab today S. Korea to revive crisis management meeting

Seoul - Yonhap

South Korea will reactivate its \"crisis management meeting\" starting next week as the nation\'s economy is facing growing external uncertainties stemming from the eurozone debt problems, the top economic policymaker said Wednesday. This will replace the existing weekly economic policy coordination meeting, which has been in place for months to coordinate economic measures of economy-related ministries, Finance Minister Bahk Jae-wan told other policymakers during the meeting. The move comes after President Lee Myung-bak decided on Monday that he will revive the emergency economic meeting that he had presided over to lead South Korea out of the 2008 global financial crisis. \"In line with the decision by the president to turn into an emergency mode, we will also turn the economic policy coordination meeting into the crisis management meeting from next week,\" Bahk said. This would be the first time in 10 months that the government holds such an emergency meeting. South Korea changed the crisis management meeting into a gathering that focuses on economic policy coordination back in Dec. 22 as economic situations were brought under control. But as the recent eurozone debt problem and stagnant recoveries in advanced nations are raising concerns over a double-dip recession, South Korea\'s financial markets are on a roller coaster ride, reminding many of the 2008 financial crisis. \"There is a tendency that negative indicators are received just as they are, but positive ones are being called into question,\" Bahk said. \"We are worried that groundless rumors might also make things worse by amplifying the so-called Korea discount phenomenon.\" Bahk noted that the global credit appraisers that he met during his visit to Washington last week expressed their trust in South Korea\'s economic fundamentals, saying that they are stronger than any other country. The minister added that he will explain the nation\'s accurate economic and financial situations to the delegation of Fitch Ratings, which currently is here for an annual meeting with senior policymakers and industry experts. Bahk will meet the Fitch officials on Wednesday morning. Later in the day, Bahk held a luncheon meeting with private sector financial and economic experts in central Seoul to discuss the latest market situation. During the meeting, he said that the government is well prepared for any upcoming difficulties as it has enhanced its crisis management capacity significantly following crises it suffered in 1997 and 2008. \"As we have successfully weathered crises, the government already has some types of (crisis) response protocols in place,\" Bahk told the meeting. \"We are well aware of what measures should be taken in any circumstance and are ready to take appropriate actions in case we have a situation.\" The meeting was the first of its kind after the government recently decided to hold a regular luncheon gathering with private sector experts. The meeting was also attended by senior officials of the Financial Services Commission and the Bank of Korea along with experts from the private sector, including think tanks and securities firms.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today s korea to revive crisis management meeting Arab Today, arab today s korea to revive crisis management meeting

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today s korea to revive crisis management meeting Arab Today, arab today s korea to revive crisis management meeting

 



Arab Today, arab today Designer Rania Adel reveals her new collection

GMT 17:59 2017 Monday ,12 June

Designer Rania Adel reveals her new collection
Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today

GMT 09:49 2017 Tuesday ,02 May

Girl barred from Malaysia chess competition

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse

GMT 16:25 2017 Sunday ,04 June

“Suhoor” is basic meal for fasting

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 23:13 2017 Sunday ,18 June

New ransomware virus attacking mobiles in Oman
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday